Commonwealth Numbered Regulations - Explanatory Statements

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SUPERANNUATION (PSS) APPROVED AUTHORITY INCLUSION DECLARATION NO. 7 1992 NO.106

STATUTORY RULES 1992 No. 106

ISSUED BY THE AUTHORITY OF THE MINISTER FOR FINANCE

SUPERANNUATION ACT 1990

DECLARATION UNDER PARAGRAPH (b) OF THE DEFINITION OF "APPROVED AUTHORITY" IN SECTION 3

The Superannuation Act 1990 (the 1990 Act) provides for the new superannuation scheme (the PSS scheme) for Commonwealth employees and certain other persons to operate from 1 July 1990. Members of the Commonwealth superannuation scheme which was established under the Superannuation Act 1976 (the CSS) had the option, to be exercised between 1 July 1990 and 30 June 1991, of remaining members of that scheme or of transferring to the PSS scheme.

Persons eligible to contribute under the 1990 Act include certain persons employed by an approved authority. In accordance with paragraph (b) of the definition of "approved authority" in section 3 of the 1990 Act, an approved authority includes an authority or body that is declared, in writing, by the Minister for Finance to be an approved authority for the purposes of the Act, being an authority or body of a kind described in the definition.

Section 45 of the 1990 Act provides that such a declaration is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901 and a Statutory Rule for the purposes of the Statutory Rules Publication Act 1903.

The Dairy Research and Development Corporation was established on 1 April 1990 under the Primary Industries and Energy Research and Development Act 1989 as a body corporate with power to engage its own employees. Legislation was put in place in 1991 which had the effect of permitting persons who were contributors to the PSS scheme immediately before becoming employees of the Corporation to continue to be such contributors while being employees of the Corporation.

The Dairy Research and Development Corporation is a body of a kind described in the definition of approved authority in section 3 of the 1990 Act. It is appropriate that the Corporation be declared to be an approved authority for the purposes of that Act to permit employees who are not existing contributors to the PSS scheme to become such contributors.

The Declaration contained in the Statutory Rule, and cited as Superannuation (PSS) Approved Authority Inclusion Declaration No. 7, declares the Dairy Research and Development corporation to be an approved authority for the purposes of the 1990 Act with effect from the date of gazettal of the Declaration.